Jurnal Akuntansi, Keuangan dan Perbankan

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ISSN 2338-9753
Volume 1 No 4 Desember 2015
Account
Jurnal Akuntansi, Keuangan dan Perbankan
Ruang Lingkup: Account merupakan jurnal yang diterbitkan untuk memberikan masukan bagi pengembangan ilmu pengetahuan dibidang akuntansi, keuangan dan perbankan. Artikel yang dimuat di jurnal ini merupakan kajian teoritis dan hasil riset
terapan di bidang akuntansi, keuangan dan perbankan
Analisis Kinerja Keuangan Pada Perusahaan Daerah Badan Kredit Kecamatan (PD
BKK) Tegal Barat Kota Tegal,. Ervani Candra Diyanti. Hesti Widianti. Hal 256265.
Redaksi Account menerima
Redaksi Account
Analisis Dan Perhitungan Break Even Point (Bep) Sales Mix Paving Blok Di PT
artikel penelitian
untuk
Borneo Abadi Samarinda.
Achmad Rudzali.
Selvy Damayanti. Hal 266-275.
menerima artikel
penelitian untuk dimuat
pada terbitan berikutnya
yang sesuai dengan ruang
lingkup jurnal account.
Analisis Spillover Terhadap Pasar Ekuitas Negara Berkembang dan Negara Maju
Periode 2003-2011. Husnil Barry . Hal 285-293.
Kirim artikel anda ke
[email protected].
dimuat pada terbitan
berikunya yang sesuai dengan
Faktor-Faktor Penentu Niat Mahasiswa Untuk Menjadi Pegawai Direktorat Jenderal Pajak: Pendekatan
Theory
Of Reasoned
ruangl Model
lingkup
jurnal
ac- Action. Yanto Darmawan. Yudi
Santara Setyapurnama. Hal 276-284.
count.
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Perancangan Web Performance and Load Test Rig pada Microsoft Azure Cloud
Platform untuk
Sistem iBanking.
Alfian
Akbar Gozali.
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format
tulisan
an- Hal 294-301.
da dengan format yang terse-
Pengaruh Likuiditas, Leverage, Dan Aktivitas Operasi Terhadap Kemampulabaan
dia di halaman belakang,
Pada Pt Kai Daop 2 Bandung. Renny Sukawati. Hal 302-307.
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Pengaruh Faktor
Pendapatan,
Pengetahuan
Zakat Dan Kredibilitas Lembaga
Pengelola Zakat Terhadap Kepercayaan
diatas Masyarakat Pada Lembaga Pengelola Za-
kat (Kecamatan Medan Satria Kota Bekasi). Astri Yuningsih. Abdillah. Mulia Nasution. Hal 308-315.
Pengaruh Gross Domestic Product Dan Inflasi Terhadap Non Performing Financing
Pada PT Bank Muamalat Indonesia Periode 2006-2013. Aidah Masthuroh.
Efriyanto. Herbirowo Nugroho. Hal 316-322.
Pengaruh Relationship Marketing terhadap Loyalitas Nasabah pada Bank BNI
Syariah Kantor cabang Fatmawati. Agissa Ardania Putri. R. Elly Mirati. Aminah.
Hal 323-330
The Significance of Marketing Business Award on Corporate Reputation and Marketing Performance of Brand Holder Company in Indonesia. Silvia Rozza. Hal 331341
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diatas
ISSN 2338-9753
 Susunan Redaksi:
 Pengarah:
 Abdillah, Fachrudin Mukhtar, Agus Supriadi, Lenny Brida, Zainal Nur Arifin
 Penangung Jawab:
 Elly Mirati
 Pimpinan Redaksi:
 Ali Masjono
 Tim Redaksi:
 Agus Purwaji, Titi Suhartati, Petrus Hari Kuncoro Seno, Nur Hasyim,
Ahmad Abror, Bambang Waluyo, Silvia Roza, Supriatnoko.
 Mitra Bestari:
 Dr Cipto Wardoyo SE. M.Pd. M.Si., Ak. CA. (Universitas Negeri Malang)
 Dr. Lana Sularto SE. M.M.Si. (Universitas Gunadharma)
 Utami Puji Lestari. Ph.D. (Politeknik Negeri Jakarta)
 Dr. Silvia Roza (Politeknik Negeri Jakarta)
 Dr Supriatnoko (Politeknik Negeri Jakarta)
 Dr Endang PB (Politeknik Negeri Jakarta)
 Dr Nurhasyim (Politeknik Negeri Jakarta)
 Dr Ade Sukma Mulya (Politeknik Negeri Jakarta)
 Dr Silvia Roza (Politeknik Negeri Jakarta)
 Dr. Supriatnoko (Politeknik Negeri Jakarta)
 Dr. Ida Nurhayati (Politeknik Negeri Jakarta)
 Layout dan sirkulasi : Darwin dan Afriza Wijaya
Artikel yang dimuat di Account, jurnal akuntansi, keuangan dan perbankan berupa
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ISSN 2338-9753
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Depok Desember 2015
Pimpinan Redaksi
Account: Silvia Rozza
The Significance of Marketing Business Award on Corporate Reputation
and Marketing Performance of Brand Holder Company in Indonesia
Sylvia Rozza
Akuntansi, Politeknik Negeri Jakarta
[email protected]
Abstract
This paper investigates the significance of marketing business award on corporate reputation and marketing
performance. Since the award is conferred upon a brand, this study also measures the moderating effect of
brand equity of a brand that receives the award on corporate reputation. Furthermore, it also measures its
direct effect on corporate reputation. The unit of analysis of this research covers 200 customers of a brand that
receives the award. Applying Structural Equation Modeling (SEM) generates the following findings. Marketing
business award influences corporate reputation of brand holder’s company and in turn it enhances marketing
performance in term of customer attitudinal and behavioral loyalty. As a moderator, brand equity enhances the
effect of the award on corporate reputation while the brand equity itself does not influence corporate
reputation. These findings confirm the theories application on this research as underpinning of the research
model. The managerial implication on brand holder’s company is also elaborated.
Key Words: marketing business award, relational market-based asset, intellectual market-based asset, brand
equity, corporate reputation, marketing performance, attitudinal and behavioral loyalty.
Introduction
Business awards have been bestowed for
almost two decades in Indonesia. Award program
has been conducted since 1998 by SWA business
magazine-the initiator of business award
conferment. However, a research that measures the
significance of the awards specifically marketing
business award on firm performance in term of
marketing performance, was not adequately
covered.
In the meantime, numerous researches on
the significance of business award in the form of
quality award have been conducted in The United
State of America and The United Kingdom (e. g.
Davis & Stading 2005; Jacob, Madu, & Tang,
2004; Balasubramanian, Mathur, & Thakur 2005;
Dror 2008; Leonard 2006; Levine & Toffel, 2010).
Most of the researches were measured in terms of
financial performance (e.g. Jacob, et al., 2004;
Davis & Stading 2005; Balasubramanian et al.,
2005). Many researchers of the awards have found
that the awards generate corporate reputation (e.g.
Miles & Covin 2000; McDonald, et al., 2002;
Daniels, 2002; Balasubramanian, et al. 2005; Dror
2008). Despite those considerable numbers of
researches to date, a research that measures the
influence of the award on corporate reputation to
the best knowledge of the researcher is still
missing. Therefore, the purpose of this study is to
cover the current inconclusiveness related to
measuring specifically the influence of marketing
business award on corporate reputation and
ultimately on marketing performance. Furthermore,
this research attempts to investigate the moderating
effect of brand equity on the impact of the award
and its direct effect on corporate reputation since
the award is conferred upon a superior brand.
Politeknik Negeri Jakarta
Theoretical Background
This research is based on three basic
theories. The first two are Market-Based Asset
(MBA) and its linkage with Resource-Based
Theory (RBT) to explain that marketing business
award as reflection of relational and intellectual
market-based assets are considered assets that can
attain sustainable competitive advantage (SCA) and
superior marketing performance. In addition, the
Signalling Theory is used to delineate the role of
the award as a communication medium between a
company and stakeholders which can equalize
information asymmetry between the two. These
theories will be further highlighted.
Linking Market-Based Asset (MBA) and
Resource-Based Theory (RBT)
This research is in the realm of MarketBased Asset (MBA) and its linkage with ResourceBased Theory (RBT). Kozlenkova, Sumaha, &
Palmatier, (2014); Almarri & Gardiner, (2014);
Wernerfelt, (2013) argue that RBT contributes in
many aspects of marketing. Its main application is
in the field of MBA. Leading RBT proponents state
that marketing specific resources (MBA) can
generate competitive advantage for a company
(Barney, 1991; Grand, 1991; Wernerfelt, 1984). In
the context of RBT, resources that are valuable,
rare, inimitable and non-substitutable (Barney,
1991) enable businesses to develop and maintain
competitive
advantages.
Additionally,
the
businesses utilize these resources to attain
competitive advantages for superior performance
(Collis & Montgomery, 1995; Grant, 1991;
Wernerfelt, 1984).
Principally, there are two types of marketbased assets (MBA): relational and intellectual
(Srivastava, Fahey, & Christensen, 2001).
Halaman 331
Relational MBA is the establishment of intimate
relationship with channels, customers, networks &
ecosystem. Intimate relationship between a
company and its stakeholders indicates the
existence of a relationship quality or strong
relationship between them (Palmatier, Dant,
Grewal, & Kenneth, 2006; Aurier & N’Goala,
2010). Meanwhile, intellectual MBA is the type of
knowledge a firm possesses about its competitive
environment (Srivastava, et al., 2001). This asset is
a result of a company interaction with customers so
that the company understands and delivers
customers’ oriented products.
Business awards generate corporate
reputation (e,g. Balasubramanian et al., 2005). The
researcher posits that marketing business award as
reflection of relational and intellectual MBA is an
intangible marketing resources that also create
competitive advantage and ultimately superior
marketing performance for the brand holder
company. Corporate reputation is also one of
intangible marketing resource (MBA) that can
generate sustainable competitive advantage and can
create value for long term marketing and financial
firm performance (Caves & Porter 1977; Miles &
Covin 2000; Boyd, Bergh & Ketchen Jr., 2010). In
the context of Resource-Based Theory (RBT),
corporate reputation is considered an important
intangible asset for a company because it is a proof
of a good relationship between a company and its
stakeholders (Hall, 1992;
Flamagan &
Shaughnessy, 2005). It can strengthen the causal
relationship and has positive implication on firm’s
performance (Boyd, et al., 2010). Corporate
reputation reflects superior competitive advantage
of a company that is difficult to imitate and can
contribute to company profitability (e.g. Gardberg
& Fombrun, 2002; Gotsi & Wilson, 2001;
Groenland, 2002; Whetten & Mackey, 2002; Yoon,
Guffey & Kijewski, 1993). Barney, 1991; Dowling,
2001 Dierickx & Cool, 1989; Rindova,
Williamson, Petkova & Sever, (2005) state that
corporate reputation is an external and internal
organizational attribute as intangible marketing
resource in RBT perspective.
Marketing business award is conferred
upon a brand. Then, brand equity of a brand that
receives the award would interact with the award,
and affects the effect of award on corporate
reputation. Brand equity itself affects corporate
reputation (Ying Fan, 2005; Smith, Smith & Wang,
2010). Brand equity is also an intangible marketing
resource or an MBA in the context of RBT
(Barney, 1991; Grant, 1991; Wernerfelt, 1984;
Srivastava et al., 2001).
Award as an MBA is measured by
marketing performance in the form of attitudinal
and behavioral loyalty. To see the benefit of the
award for the brand holder company, the
significance of the award on marketing
performance has to be initially measured by
corporate reputation. Therefore, in this research,
corporate reputation will be a mediating variable.
According to Alsop, (2004); Gotsi & Wilson,
(2001); Walsh, Mitchell, Jackson & Beatty, (2009)
corporate reputation influences customer loyalty.
The concepts of corporate reputation, brand equity,
customer attitudinal and behavioral loyalty will be
the basis of the research model.
Signaling
Theory
and
Marketing
Communication
Signaling is about delivering information
in order to equalize information asymmetry
between two parties done by an agent (Spence,
1973, 1974). A company signals its activities to
stakeholders through its advertising, employee
recruiting or yearly financial reporting (Karasek, III
& Bryant, 2011). Marketing division can be a
medium or so called agent that also signals
important aspects of a company such as its new
product release, new product feature or new
product version (Homburg, Bornemann, &Totzek,
2009) so that the company can inform and equalize
information with customers as the most important
stakeholder (Hult, 2011).
Marketing business award as an agent or
marketing communication medium can signal that
the company has relational and intellectual assets in
the context of MBA. From this perspective an
agent is a communication medium between
company and customers that informs company’s
good corporate reputation (Kiousis, Popescu &
Mitrook, 2007). Corporate reputation is also a
signal of company ability in satisfying its
customers (Boyd, et al., 2010; Fombrun & Shanley,
1990; Spence, 1973). Signalling Theory is used to
clarify the role of marketing business award and
corporate reputation as MBAs and agents which
will equalize information asymmetry between a
brand holder company and customers.
Research Model and Hypothesis
1. Research Model
The research model depicts the
relationship of six variables. Marketing business
assets (AR and AI) are the first two variables which
influence corporate reputation. Brand equity (BE)
and corporate reputation (CR) are the next two
variables where brand equity moderates the effect
of award and directly affects corporate reputation.
The last two variables are nonfinancial measures of
marketing performance in terms of customer
attitudinal and behavioral loyalty (AL and BL).
The influence of award on marketing performance
is
mediated
by
corporate
reputation.
Interrelationships of the variables are described
below. The research model can be depicted as
follow (exhibit 1).
Halaman 332
Marketing Business Award
Marketing
Performance
Award as
Reflection
of
Corporate
Reputation
Relational
Attitudinal
loyalty
Behavioral
loyalty
Award as
Reflection
of
Intellectual
Brand Equity
Exhibit 1. Research Model
Marketing Business Award as a Reflection of
Relational Asset
Marketing business award is bestowed
upon a superior brand of a company. This award is
a result of a company intimate relation with
customers where the company is capable of
providing trusted and satisfying brand for
customers. The brand is the best for the customers
and suits their need, so they trust and are
committed to the brand. Company interaction with
stakeholders as a result of their intimate relation is
a relational market-based asset (Srivastava et al.,
2001). The award meets the criteria of relational
asset in the context of MBA. In the intimate
relation or strong relationship, there is relationship
quality which reflects trust and commitment
(Palmatier, et al., 2006; Aurier & N’Goala, 2010).
Customer satisfaction and trust are antecedents of
corporate reputation (Walsh, et al., 2009; Walsh &
Beatty, 2007). Hence, this award received by a
brand influences corporate reputation as stated by
e.g. Balasubramanian et al., (2005).
Marketing Business Award as a Reflection of
Intellectual Asset
The award is a proof of company’s
knowledge on its competitive environment. A
brand which receives this award understands
customers need more than competitors do and
provides all information needed by customers.
Company’s
knowledge
on
competitive
environment as a result of its interaction with
stakeholders is an intellectual market-based asset
(Srivastava et al., 2001). This award reflects
intellectual asset since the company understands
and provides more customer-driven product, treats
customers as a valuable asset and responsively, and
appreciates high value customers. It indicates that
the company has market-based capabilities as
stated by Ramaswami, Srivastava, & Bhargava,
(2009). Likewise, this award also influences
corporate reputation (e.g. Balasubramanian et al.,
2005).
Corporate Reputation as Mediating Variable
Walsh & Beatty (2007: p. 129) defines
firm’s reputation from customer perspective, as:
“The customer’s overall evaluation of a firm based
on his or her reactions to the firm’s goods,
services, communication activities, interaction with
the firm and/or its representatives and/or known
corporate activities”. Dimensions of corporate
reputation are customer orientation, good
employer, reliable and financially strong company,
product and service quality, and social and
environmental responsibility. Marketing business
MBA meets criteria of corporate reputation
antecedents due to award as a proof of customer
belief that the brand holder company is capable of
providing a brand they trust and are committed to.
The customers are also aware of company
responsiveness toward their needs.
Brand Equity as a Moderating Variable and
Brand Equity as a Variable that Directly
Influences Corporate Reputation
Keller, (2003, p. 60) defines customerbased brand equity as: “differential effect that
brand knowledge has on consumer response to the
marketing of that brand”. Brand equity is vital and
a core component of corporate reputation (Ying
Fan, 2005; Smith, et al., 2010). The brand equity of
the brand that receives the award would interact
with the award and moderates the effect of award
on corporate reputation. Strong brand will enhance
customer trust and satisfaction where these two
components are antecedents of corporate reputation
(Walsh et al., 2009). Basdeo, Smith, Grimm,
Rindova, & Derfus, (2006) state that company’s
strong brand influences corporate reputation. Brand
equity is measured by brand awareness and brand
image. Brand awareness comprises of brand
recognition and brand recall while brand image is a
positive attitude toward a brand in a sense of
strong, favorable, and unique associations (Keller,
2003).
Halaman 333
(Aurier & N’Goala, 2010). Therefore, marketing
The Measure of Marketing Performance
Marketing
activity
is
considered
business award as a reflection of relational MBA is
successful when it can enhance customer loyalty
a result of company intimate relationship with
(Dick &Basu, 1994; Li & Robert, 2011). Customer
customers.
loyalty is a result of a successful marketing strategy
A brand holder company receives a
and will improve competitive advantage (Li &
marketing business award because of its
Robert, 2011). Customer loyalty has been the
understanding of customer need for a superior
center of scholars’ attention as the most attractive
brand better than competitors. Srivastava, et al.,
nonfinancial measure of marketing performance in
(2001) states that an intellectual MBA is an asset
marketing literature (Rust, Ambler, Carpenter,
derives from company’s knowledge on its
Kumar & Srivastava, 2004; O’Sullivan & Abela
competitive environment. Therefore, marketing
2007).
business award is a reflection of intellectual
Customer loyalty is the main objective of
market-based asset due to company’s knowledge of
strategic marketing plan and an important basis in
its competitive environment. Therefore, it can
building sustainable competitive advantage. It will
provide customer oriented product better than
be achieved through marketing activities (Kotler,
competitors do.
1994). Loyal customer tends to express two types
Through this award customers believe that
of changing behaviors i.e. repeat buying behavior
the company produces a brand they can trust and
and saying positive things to others because of
are committed to. The customers are also aware of
product quality and prior satisfaction received
company understanding and responsiveness toward
(Pollack, 2009). Therefore, customer loyalty is
their needs. Hence, this award influences corporate
greatly related with company’s success and
reputation (e.g. Balasubramanian et al., 2005).
profitability (Eakuru & Mat, 2008). Corporate
Signaling is about delivering information
reputation enhances customer loyalty (Alsop, 2004;
in order to equalize information asymmetry
Gotsi & Wilson, 2001; Walsh et al., 2009). There
between two parties done by an agent (Spence,
are two types of customer loyalty: attitudinal and
1973, 1974). An agent is a communication medium
behavioral (Jacoby & Chestnut, 1978). Corporate
between company and customers which informs
reputation as an MBA enhances customer
company’s good corporate reputation (Kiousis et
attitudinal and behavioral loyalty.
al., 2007). Corporate reputation is a signal of
Attitudinal loyalty is a level of customer
company ability in satisfying its customers (Boyd
psychological ties toward a product or a brand.
et al., 2010; Fombrun & Shanley, 1990). This
Attitudinal loyalty is measured by positive attitude
award in Signaling Theory perspective is an agent
toward the brand, brand encouragement, saying
or communication medium that can inform the
positive things, and brand recommendation
customers about the relational and intellectual
(Chaudhori, & Holbrook, 2001). Meanwhile,
assets owned by a company. Therefore, the
behavioral loyalty can be seen through repeat
researcher argues the next two hypotheses as
buying of the same brand overtime, a brand is the
follows:
first choice in purchase sequence, increased brandH1. Marketing business award as relational market-based
purchase proportion, and lower brand switching in
asset positively influences corporate reputation.
a product category among customers. BehavioralH2. Marketing business award asintellectual market-based
loyalty is measured by future buying, purchase
asset positively influences corporate reputation.
proportion, purchase sequence and the amount of
brand switching which means that customers rarelyThe Moderation of Brand Equity on the Effect of
switch to buy other brands (Palmer, McMahonMarketing Business Award as Relational and
Bettie & Beggs, 2000; Shukla, 2004).
Intellectual MBA on Corporate Reputation
Marketing business award as reflection of
relational and intellectual MBA is an asset as a
2. Hypothesis
result of intimate relation between a company and
The Influence of Marketing Business Award as
stakeholders and a company’s knowledge of its
Relational and Intellectual MBA on Corporate
competitive environment. Hence, this award
Reputation
The researches on quality award
influences
corporate
reputation
(e.g.
significance conclude that the award generates
Balasubramanian et al., 2005).
corporate reputation (e.g. Balasubramanian, et al.
Brand equity is a vital and core
2005). Marketing business award received by a
component of corporate reputation (Ying Fan,
superior brand is a result of company intimate
2005; Smith, et al., 2010). Brand equity of a brand
relation with customers where the company is
that receives the award will interact with the award
capable of providing satisfying brand which
in affecting corporate reputation. Hence, the next
customers trust and are committed to. According to
two hypotheses will be as follows:
Sivastava et al., (2001) relational MBA is an assetH3. Strong brand equity moderates the effect of award as
as a result of intimate relation between a company
relational market-based asset on corporate
and stakeholders. Intimate relation or relationship
reputation.
quality is indicated by trust and commitment
Halaman 334
H4. Strong brand equity moderates the effect of award as
intellectual market-based asset on corporate
reputation.
The Influence of Brand Equity of on Corporate
Reputation
Strong brand will increase customer
satisfaction and trust. These two factors are the
antecedents of corporate reputation on customer
perspective (Walsh & Beatty, 2007; Walsh, et al.,
2009). Brand equity means the customers believe
that the brand holder company produces a product
with high brand awareness and image. Basdeo, et
al., (2006) stated that corporate reputation is greatly
influenced by the activity of a company such as
building superior brand. Therefore, brand equity of
a brand that receives an award will be an
antecedent of corporate reputation. Hence, the
researcher argues the next hypothesis:
H5. Brand equity of a brand receives marketing
business award influences corporate reputation.
The Influence of Corporate Reputation on
Customer Attitudinal and Behavioral Loyalty
Corporate reputation is a company key
success in winning competitive advantage (Hitt,
Boyd, & Li, 2004; Rumelt, Schendel, &Teece,
1994). A good corporate reputation is a company
rare resource, because it is scarcely owned, difficult
to imitate, can generate competitive advantage, and
superior firm performance as stated in the context
of RBT (Diericks & Cool, 1989; Hall, 1992; Robert
& Dowling, 2002; Rindova et al., 2005). Corporate
reputation signals the quality of a company to
stakeholders, and at the end constructs the
perception of company ability in satisfying and
fulfilling customers’ need (Boyd et al., 2010).
Corporate reputation strengthens customer’s trust
toward
a
product/service/brand,
increases
satisfaction and enhances repeat purchase and
customer loyalty (Davis, & Young 1977; Nha
Nguyen & Gaston Leblanc 2001). Positive attitude
toward a company and sustainable repeat purchase
are keys to customer loyalty (Dick &Basu, 1994).
Customer buying intention for more products is
higher from a company with a good corporate
reputation although with a more expensive price
(Graham & Bansal, 2007).
Customer loyalty is an impact of a good
corporate reputation and this will be stronger when
the corporate reputation becomes more positive
(Alsop, 2004; Gotsi& Wilson, 2001). There are two
types of customer loyalty: attitudinal and
behavioral (Jacoby & Chestnut, 1978). Attitudinal
loyalty is a level of customer psychological ties
toward a product or a brand (Chaudhori, &
Holbrook). Customers who perceive the company
to have a good reputation would be expected to be
more willing to engage in positive word of mouth.
Saying positive things (e.g. about the brand) to
others or positive word of mouth is the strongest
dimension of customer attitudinal loyalty
(Chaudhori, & Holbrook, 2001; Sundaran, Mitra
&Webster, 1988; Walsh et al., 2009).
Behavioral loyalty can be seen through
repeat buying of the same brand overtime, a brand
is the first choice in purchase sequence, increased
brand purchase proportion, and lower brand
switching in a product category among customers
(Palmer, et al., 2000; Shukla, 2004). Wernerfelt
(1988) showed that customers exposed to a product
with familiar brand name intensively, extended
characteristics of the brand to the product and thus
a good company reputation would suggest
customers to judge the product more favorably.
.Buying the same brand in the future overtime and
increasing buying proportion are the kinds of
favorable attitude towards a brand and the strongest
dimensions of behavioral loyalty Thus, the next
two hypotheses are as follow.
H6. Corporate reputation positively influences
customer attitudinal loyalty.
H7. Corporate reputation positively influences
customer behavioral loyalty.
Research Method
This research is a descriptive research and
a cross sectional study. This research uses survey
as data collection method. The sampling method is
purposive. To test the hypothesis, Structural
Equation Modelling (SEM) is employed because
the constructs are perceptual basis, whereas those
constructs can only be observed indirectly through
its effects on observed variables. Interaction of all
variables set in the research model and hypothesis
can also be seen simultaneously with this tool
(Wijanto, 2008). Furthermore, the moderating
variable will be analyzed by interaction model
approach with single indicator (Ping, 1995, 1998;
Wijanto, 2008; Hair Black, Babin, &
Anderson,2010).
Data Collection
This research is started by interviewing an
executive director of SWA magazine. From more
than 20 business awards conferred by SWA, ICSA
(Indonesia Customer Satisfaction Award) is the
earliest marketing business award bestowed. This
award is annually conferred to a local or global
superior brand with high score in quality
satisfaction, perceived best, value satisfaction, and
expectation.
The purpose of the interview was getting
insight why this magazine is interested in awarding
business award as its core product. How is the
stakeholder perception about the program? Do the
companies that receive the awards get benefit from
the award they win? Are their competitive
advantages higher after winning the awards? Are
they encouraged to do their best in order to win it
more? How many kinds of awards have been
bestowed? What is the earliest award conferred?
Halaman 335
ICSA is bestowed upon a superior brand
of a broad range of product categories (consumer
products and services) owned by local and global
brand holder companies. Rinso is a brand of
detergent product category which consecutively
receives this award since the last 7 years. This is a
brand selected as the object of the award receiver.
The reason of selecting Rinso is also because from
preliminary study of brand awareness done by the
researcher, most of the aspirant respondents are
familiar with the company that owns the brand.
Since the brand holder’s company is well known to
them, they could easily answer the questions
pertaining to its corporate reputation, one of six
variables to be investigated in this research.
In this research, deciders are chosen as
respondents because they make the ultimate
purchase decision. According to Kotler &
Amstrong, (1996), decider is one of five consumer
buying roles in a consumer market.
The procedure of selecting respondents is
started by asking the aspirant respondents of a
screening question to make sure that they are
qualified to answer the main research question.
They are asked to ascertain that they are the
customers of Rinso detergent at least in the last one
year. Then, they are asked whether they are aware
of ICSA award received by the brand. Furthermore,
they are asked whether they are familiar with
Unilever (the brand holder company of Rinso).
Lastly, they are ascertained as deciders in buying
the brand. The eligible subject of the research is
200 respondents. The survey is done by face to face
interview. Most of the respondents are on 31-40
years, (75.5%) of them are married. 30% of them
are high school graduates, and 40% of them are
non-government employees.
Measurement item
In order to test the hypothesis empirically,
a questionnaire composed and adapted based on
previous studies was arranged. This questionnaire
represents the six research variables, using 5
Likert-scale, ranging from 1 (“strongly disagree”)
to 5 (“strongly agree”). AR variable which is
related with relationship quality is measured by 7
items adapted from the research conducted by
Aurier & N’Goala, (2010). AI variable which is
related with market-based capabilities is measured
by 5 items adapted from the research conducted by
Ramaswami, et al., (2009). 11 items of CR variable
is from the research conducted by Walsh et al.,
(2009) whereas 7 items of BE variable is from the
research conducted by Atilgan, Aksoy, and Akinci
(2005). 5 items for AL and 4 items for BL variable
are adapted from the research conducted by Kaur
and Soch (2012).
To ensure validity and reliability of
variables, the researcher did a pre-test with 30
aspirant respondents. Initially, there were 40
questions in the questionnaire. The result showed
that there were four non valid question items.
Loading factor of these items is less than 0.5. The
researcher suspects that the aspirant respondents do
not clearly comprehend the questions. Hence, the
questionnaire was revised and the second pre-test
was done with another 30 aspirant respondents.
Finally, there were 39 valid and reliable questions
to be used in this research (attachment 1).
Data Analysis
The research analysis applies two-step
approach (Anderson & Gerbing, 1988). The first
step uses Confirmatory Factor Analysis (CFA) to
assure that the measurement model has good
validity and reliability. On the second step, a
structural path is added into the measurement
model to compose a hybrid model as an initial
structural model.
The validity of measurement model
analysis shows that all standardized loading factors
of each indicator are higher than 0.5. Likewise,
reliability as evidenced by CR and AVE is
accepted to be used for further analysis (attachment
2).
Model fitness of hybrid model is
measured by five parameters such as P-value,
RMR, RMSEA, GFI, and AGFI. Standardized
coefficient of AR and AI variables has negative
scores (attachment 3). All four parameters in
goodness of fit except p-value (poor fit) are in good
fit. Before interpreting the result, model respecification has to be done. Result of model respecification shows that standardized coefficient of
these two variables become positive (Attachment
4) with the same position of goodness of fit.
The result of hypothesis testing can be summarized
in table 1. From 7 hypotheses proposed, only one
hypothesis is not supported. T-value of the effect of
brand equity on corporate reputation is not
significant. LISREL 8.7 output shows the result in
the next table below.
Table1. Hypothesis Test of Marketing Business Award ICSA
HYPOTHESIS
Coefficient
T-value
Conclusion
H1
ARCR
0.15
2.54
Hypothesis Supported
H2
H3
H4
H5
H6
AICR
AR*BECR
AI*BE CR
BE CR
CR AL
0.15
0.21
0.25
0.18
0.92
2.85
4.95
5.75
1.45
17.02
Hypothesis Not Supported
Halaman 336
H7
CR BL
0.83
Source: Analyzed from LISREL 8.70 Output
Result and Discussion
Srivastava et al., (2001) mentioned that
relational asset is an asset as a result of company
intimate relationship with customers. Intimate
relationship or relationship quality is indicated by
trust and commitment (Aurier & N’Goala, 2010).
ICSA award is a reflection of relational asset since
this award is a proof of company intimate
relationship with customers so it can produce a
brand where the customers have trust and
commitment on it. Result of hypothesis test states
that ICSA award as reflection of relational MBA
(AR) enhances corporate reputation. Therefore it
confirms the statements of quality award
researchers that the awards generate corporate
A company’s knowledge about its
competitive environment is an intellectual MBA
(Srivastava, et al., 2001). This knowledge reveals
that the company has market-based capability
which is indicated by company responsiveness
toward the customers (Ramaswami et al., 2009).
ICSA award is also a reflection of intellectual
MBA (AI) since this award is a proof of company
understanding of its competitive environment.
Through its interaction with the customers, the
company is capable of providing more customers’
oriented product than its competitors. Therefore,
this award enhances corporate reputation of
Unilever. It also confirms the statement of quality
award researchers that awards generate corporate
Corporate reputation of Unilever is
enhanced by ICSA award as reflection of relational
and intellectual MBA because the customers of
Rinso that receives this award are aware that the
company produces a brand they can trust and
commit. They also know that the company is
responsive to their needs and treats them as an
asset.
A company signals its activities to
stakeholders done by an agent (Karasek, III &
Bryant, 2011). ICSA award expands the type of
agent in the context of Signaling Theory. The
award signals that the company has relational and
intellectual assets.
Brand equity of Rinso interacts with ICSA
award and strengthens the effect of the award as
reflection of relational and intellectual MBA on
Unilever corporate reputation. It means that the
influence of the award on corporate reputation is
enhanced by the brand equity. High brand equity of
Rinso and ICSA award synergize to enhance
corporate reputation. High brand equity indicates
that the company has a brand with a high brand
awareness and image (Keller, 2003). On the other
hand, brand equity of Rinso does not directly
influence corporate reputation of Unilever. This is
in-line with the concept of brand strategic
14.70
management which explains that brand equity has
different ability in influencing corporate reputation
(e.g. Keller, 2003). Unilever has 40 brands in its
brand portfolio.With this wide range of brand
portfolio, brand equity of Rinso has not occupied a
strong position in the portfolio to be able to
enhance corporate reputation.
Result of the research confirms the
previous researches that a good corporate
reputation strengthens customer loyalty (e.g. Alsop,
2004; Gotsi& Wilson, 2001; Walsh et al., 2009).
Customers of Rinso believe that Unilever has
capability to create customer loyalty toward the
brand (Rinso) because the company is customer
oriented, a good employer, has a good future,
produces high quality product, and cares for
environment and social life. Hence, corporate
reputation of Unilever significantly enhances
customer attitudinal and behavioral loyalty.
Therefore, it enhances level of customer
psychological ties to the brand as well as repeat
purchase of the brand.
The influence of Unilever corporate
reputation on attitudinal loyalty is higher than
behavioral loyalty. Customers who perceive the
company to have a good reputation would be
expected to be more willing to engage in a positive
word of mouth (Sundaran et al., 1988; Walsh et al.,
2009). Saying positive things (e.g. about the brand)
or positive word of mouth is the strongest
dimension of customer attitudinal loyalty
(Chaudhori, & Holbrook, 2001). Therefore,
corporate reputation stimulates customer attitudinal
loyalty higher than behavioral loyalty.
Conclusion
Findings of this research have proven that
marketing business award ICSA as reflection of
relational and intellectual MBA is a precursor of
corporate reputation.The award as an MBA can
generate competitive advantage in the context of
RBT. Additionally, it signals that the company has
relational and intellectual assets that can create
corporate reputation.
Brand equity of Rinso that receives the
award does not directly influence corporate
reputation of Unilever because it has not occupied
a strong position in Unilever brand portfolio to
enhance its corporate reputation. However, the
brand equity interacts with the award and
significantly moderates the effect of the award on
corporate reputation.
Corporate
reputation
of
Unilever
strengthens higher marketing performance which is
indicated by stronger customer loyalty toward the
brand. Meanwhile, the effect of corporate
reputation on customer attitudinal loyalty is greater
than its effect on behavioral loyalty.
Halaman 337
The result shows that the award which
signals that Unilever has good relationship with
customers and intellectual asset could enhance its
corporate reputation. Therefore, Unilever should
communicate this achievement to the customers
more intensively that Rinso receives the award.
Hence, Unilever should evaluate Rinso promotion
strategy to empower its brand equity. Higher brand
equity will enhance brand awareness and image of
the brand. In turn, its interaction with the ICSA
award will increase customer trust and commitment
to the brand and their belief that Unilever treats
customer responsively. Moderation of brand equity
will strengthen the effect of the award on corporate
reputation. Higher corporate reputation of Unilever
will enhance stronger customer loyalty toward the
brand. Consequently, number of Rinso purchased
will be higher and financial performance will be
better.
Limitation and Future research
This research only investigates the
significance of one marketing business award
namely ICSA. Moreover, focus of this research is
only on Rinso a brand of detergent product
category. Generalization would be difficult to make
from this limitation. In future research,
investigating the significance of the many
marketing business awards received by many
brands from various product categories would
provide wider opportunity to make generalization.
So, it can be seen whether the significance of the
awards on corporate reputation and customer
loyalty would be different.
From the brand perspective, it is a
common practice of a brand holder company of
consumer’s products to attach a logo of the award
they have received next to the brand name of the
product or on its product package. It looks that the
brand name of product to be aligned with the name
of the award. If the name of the award received by
a brand becomes a co-brand of the product brand
name, in the future research, it will be interesting to
examine the significance of the award in a position
of a co-brand on the corporate reputation and
customer loyalty.
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Halaman 341
ISSN 2338-9753
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